Hogan Lovells, Weil and Debevoise among legal line-up on $24.4bn Dell LBO
Debevoise & Plimpton, Hogan Lovells and Weil Gotshal & Manges are among a line-up of top law firms to have advised on the $24.4bn (£15.5bn) buyout of computer manufacturer Dell, in the largest leveraged buyout (LBO) since the financial crisis. Founder Michael Dell is buying back the PC group, together with private equity group Silver Lake, offering stockholders $13.65 (£8.69) in cash per share.
February 05, 2013 at 10:54 AM
3 minute read
Debevoise & Plimpton, Hogan Lovells and Weil Gotshal & Manges are among a line-up of top law firms to have advised on the $24.4bn (£15.5bn) buyout of computer manufacturer Dell, in the largest leveraged buyout (LBO) since the financial crisis.
Founder Michael Dell is buying back the PC group, together with private equity group Silver Lake, offering stockholders $13.65 (£8.69) in cash per share.
Dell, who holds the chief executive and chairman posts at the company, already owns an estimated 14% of the Fortune 500 giant, which last year took in revenue of $62.1bn (£39.5bn).
The company instructed Hogan Lovells' US arm for the LBO, while Wachtell Lipton Rosen & Katz represented Michael Dell, with Simpson Thacher & Bartlett acting for Silver Lake.
Hogan Lovells' team was led by securities partner Richard Parrino and corporate partner Kevin Greenslade, supported by corporate partners Joseph Connelly, Bruce Gilchrist and Eve Howard, finance partner Peter Humphreys and M&A partners Carine Stoick and Brent Singley. Partner Margaret de Lisser advised on employee benefits, while partner Todd Overman provided advice on government contracts. Paris-based partner Dominique Mendy acted on European labour law aspects.
Clifford Chance also took a role, acting for Silver Lake as European and Asian legal counsel with a team led by corporate partner Thijs Alexander.
Debevoise acted as legal adviser to the special committee of the company's board of directors with a team comprising corporate chief Jeffrey Rosen, M&A co-head Wiiliam Regner, corporate partner Michael Diz, head of executive compensation and employee benefits Lawrence Cagney, tax partner Peter Furci, litigation partner Gary Kubek, corporate partner Pierre Maugue and corporate partner Jeffrey Ross.
Debevoise previously advised Dell on its $1.15bn (£730m) acquisition of data-storage provider 3PAR in 2010, with Rosen leading the team on the transaction.
Weil represented Evercore Partners, one of the financial advisors to the committee, with a team led by New York corporate partner Michael Aiello alongside corporate partner Matthew Gilroy.
The American Lawyer reports that Sullivan & Cromwell corporate partner Alison Ressler is leading a Los Angeles-based team from the firm advising Microsoft, which has contributed a loan to help finance the purchase, while Davis Polk & Wardwell corporate partner Alan Denenberg is leading a team representing JP Morgan Securities in its role as the other financial adviser.
The takeover, which is subject to regulatory and Dell stockholder approvals, is expected to close before the end of the second quarter of Dell's 2014 financial year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllDavis Polk Veterans Launch M&A, Private Equity Boutique in France & Italy
2 minute readDentons and Eversheds Advise on Billion-Dollar Gulf Infrastructure Projects
3 minute readTrending Stories
- 1The Law Firm Disrupted: Playing the Talent Game to Win
- 2A&O Shearman Adopts 3-Level Lockstep Pay Model Amid Shift to All-Equity Partnership
- 3Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 5A RICO Surge Is Underway: Here's How the Allstate Push Might Play Out
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250